PulteGroup, Inc. (NYSE:PHM) Shares Sold by LSV Asset Management

LSV Asset Management lessened its stake in PulteGroup, Inc. (NYSE:PHM) by 4.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,887,664 shares of the construction company’s stock after selling 196,672 shares during the quarter. PulteGroup comprises about 0.9% of LSV Asset Management’s holdings, making the stock its 14th largest holding. LSV Asset Management’s holdings in PulteGroup were worth $401,285,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Greenhaven Associates Inc. grew its holdings in PulteGroup by 0.4% during the 4th quarter. Greenhaven Associates Inc. now owns 5,726,368 shares of the construction company’s stock valued at $591,076,000 after purchasing an additional 24,350 shares in the last quarter. FMR LLC grew its stake in shares of PulteGroup by 1.8% during the third quarter. FMR LLC now owns 5,484,469 shares of the construction company’s stock valued at $406,125,000 after acquiring an additional 95,945 shares in the last quarter. Invesco Ltd. increased its position in shares of PulteGroup by 13.3% during the third quarter. Invesco Ltd. now owns 4,432,965 shares of the construction company’s stock worth $328,261,000 after acquiring an additional 522,032 shares during the last quarter. Morgan Stanley lifted its stake in shares of PulteGroup by 2.0% in the third quarter. Morgan Stanley now owns 3,115,877 shares of the construction company’s stock worth $230,731,000 after acquiring an additional 61,953 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in PulteGroup by 54.6% in the fourth quarter. Pacer Advisors Inc. now owns 3,003,713 shares of the construction company’s stock valued at $310,043,000 after purchasing an additional 1,060,466 shares during the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

Insider Activity at PulteGroup

In other news, VP Brien P. O’meara sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $103.09, for a total value of $206,180.00. Following the completion of the sale, the vice president now directly owns 15,389 shares of the company’s stock, valued at approximately $1,586,452.01. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.83% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Barclays lifted their price objective on PulteGroup from $126.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Oppenheimer increased their price objective on shares of PulteGroup from $138.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. The Goldman Sachs Group raised their price objective on shares of PulteGroup from $91.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, January 11th. Wedbush restated a “neutral” rating and issued a $85.00 target price on shares of PulteGroup in a research note on Wednesday, January 31st. Finally, StockNews.com upgraded PulteGroup from a “hold” rating to a “buy” rating in a research note on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $111.73.

PulteGroup Stock Performance

PHM traded up $2.79 during trading on Friday, reaching $116.64. 1,874,965 shares of the company were exchanged, compared to its average volume of 1,797,015. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18. The stock has a market cap of $24.53 billion, a P/E ratio of 9.34, a PEG ratio of 0.52 and a beta of 1.56. PulteGroup, Inc. has a 52 week low of $65.16 and a 52 week high of $121.07. The firm has a 50 day moving average of $112.28 and a 200 day moving average of $101.00.

PulteGroup declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, January 30th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the construction company to purchase up to 6.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

PulteGroup Profile

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. It acquires and develops land primarily for residential purposes; and constructs housing on such land. The company also offers various home designs, including single-family detached, townhomes, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, John Wieland Homes and Neighborhoods, and American West brand names.